News

Nearly 200 European airports risk going bankrupt

October 27, 2020 10:30 PM


Twitter Share Facebook Share WhatsApp Share

Nearly 200 European airports risk insolvency in the coming months if passenger traffic does not recover, a trade association warned on Tuesday, as nations contemplate further lockdowns to combat a second wave of the coronavirus pandemic.

ACI Europe said the 193 airports facing insolvency are mainly regional airports which serve local communities.

But combined they support more than a quarter of a million jobs and 12 billion euros ($15.6 billion) in gross domestic product.

"The threat of airport closure means Europe faces the prospect of the collapse of a significant part of its air transport system -- unless governments step up to provide the required support," said the trade association. 

A number of European nations have moved to provide specific help for airlines in addition to support measures offered to all companies hit by pandemic-related restrictions.

ACI Europe's figures show airport passenger traffic was down 75 percent in mid-October, which means airports -- like airlines -- have trouble covering operating costs.

The trade body called on European nations to shift to testing air passengers for coronavirus rather than imposing quarantines on travellers. 

 

 



Most Read

  1. Public Holiday announced in Lahore tomorrow Public Holiday announced in Lahore tomorrow
  2. Police claim girl seen in sub-inspector’s video was his second wife Police claim girl seen in sub-inspector’s video was his second wife
  3. Nazish Jahangir to hit any marriage proposal from Babar Azam out of the ground Nazish Jahangir to hit any marriage proposal from Babar Azam out of the ground
  4. Complete results: PML-N sweeps by-elections as PTI-SIC remains empty-handed in Punjab Complete results: PML-N sweeps by-elections as PTI-SIC remains empty-handed in Punjab
  5. Iranian First Lady visits Numl Iranian First Lady visits Numl
  6. Man shoots friend dead in DHA Karachi over personal grudge Man shoots friend dead in DHA Karachi over personal grudge

Opinion

  1. Islamabad becoming the hub of international diplomacy
    Islamabad becoming the hub of international diplomacy

    By Salim Bokhari

  2. Insights into the Pakistan Stock Exchange's Recent Record High Triumph
    Insights into the Pakistan Stock Exchange's Recent Record High Triumph

    By Zulfiqar Ali Mir

  3. IMEC to sabotage CPEC
    IMEC to sabotage CPEC

    By Dr Asif Channer

  4. 1947 TO FORM 47
    1947 TO FORM 47

    By Dr Asif Channer

  5. Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....
    Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....

    By Ali Ramay

  6. Global race: China will reduce its unnecessary expenses
    Global race: China will reduce its unnecessary expenses

    By Ali Ramay